It’s often said that employees in different age groups want different things. Does that mean companies should change their compensation packages accordingly?
Most employers aren’t doing so — 56% of companies don’t consider generational differences when planning compensation strategies, according to a recent study by World at Work. And only 3% are actively executing a plan that takes all generations into account.
Is that a bad thing? On one hand, with benefits such as health care and retirement plans, older employees may have significantly different wants and needs than their younger counterparts.
But on the other hand, all employees are different and may have varying preferences no matter what generation they’re in.
What about at your company? Do you offer different packages to attract workers in different age groups? Has it worked? Let us know by leaving a comment below.
